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Five months after the finalization of Disney's $ 71.3 billion acquisition of key assets from Fox, new layoffs have occurred in Disney's media distribution areas, which include home entertainment and entertainment. TV distribution, I learned. I've heard that several dozens of employees, just under 60, have been affected, both on the Fox side and the Disney side. I hear among the highest ranked among those who leave are Greg Drebin, Senior Vice President, Worldwide Marketing, 20th Century Fox TV Distribution; and Jennifer Chai, Senior Vice President, Global Marketing and Strategy for the 20th Century Fox Home Entertainment.
The announcement of more layoffs after the merger at Disney is not surprising in light of recent disappointing results released by the company regarding third-quarter financial results. In this report, Disney attributes missed profits to the integration of Fox entertainment assets, streaming investments, and low attendance at theme parks.
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Between the pressure to reduce merging costs by increasing savings / synergies and distribution patterns away from traditional channels, such as home entertainment and TV distribution, for the benefit of the consumer, where Disney's big financial investment has been realized, the distribution in the media has natural target for layoffs.
The first wave of TV layoffs just after the conclusion of the Disney-Fox deal in March was mainly in the distribution sector, which is still vulnerable to consolidation. Mark Kaner, president of 20th Century Fox Television Distribution, an independent division of Fox, and Greg Meidel, president of the syndication division Twentieth Television, were the most remarkable starts.
A month later, a second round of layoffs affected the former Fox TV units, affecting employees related to television ad sales in New York. The executives were working for Fox Networks Group's 21st Century Fox division, much of which was transferred to Disney as part of the acquisition. Michael Teicher, executive vice president of media sales for Twentieth Television, part of FNG, was the leader of this wave.
Drebin, who was promoted from VPP to EVP of global marketing last year, reported to Kaner. He has managed the worldwide commercialization, advertising and promotion of the studio's series and films on all international linear channels, as well as global SVOD and streaming services for TCFTVD. He has also overseen TCFTVD's research division and the content distribution and marketing divisions of Fox Networks Group, based in London. Before joining Fox, Drebin was Vice President of Programming and Marketing at Warner Bros. International Branded Services and Senior Vice President of the International Music Feed at Universal Music Group. Drebin also founded and launched ZDTV / TechTV for Paul Allen's Vulcan Ventures and was responsible for programming and production at Viacom's MTV.
Chai led the global brand marketing strategy for the entire theatrical slate and third-party titles of the new Fox edition.
The combined production units of Disney-Fox TV have been left largely intact while the need for original content continues to grow. Meanwhile, many rounds of layoffs took place at Disney-Fox, and a large number of people working in the merged company's consumer products were fired in June.
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